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In Heinz, Berkshire to Let Others Run Show

Buffett, a Hands-Off Manager, Would Get Half-Ownership and 9% Annual Dividends as 3G Capital Oversees the Kitchen

By

Erik Holm

Feb. 14, 2013 10:29 p.m. ET

Warren Buffett is a famously hands-off manager when it comes to the day-to-day operations of the companies under the umbrella of his Berkshire Hathaway Inc. conglomerate. In the proposed deal to acquire H.J. Heinz Co., he is getting Brazilian-owned private-equity firm 3G Capital to provide the hands.

The $23 billion bid represents an unusual partnership for Mr. Buffett, who has used Berkshire Hathaway's vast resources in the past to...

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